Russia-Ukraine war deals JP Morgan £402m blow April 13, 2022 The US’s largest bank, JP Morgan, has been dealt a $524m (£402m) blow from losses linked to assets it owns in Russia, it announced today. The firm headed by Jamie Dimon said losses had been driven by “markdowns of derivatives” tied to Russian counterparties. The Wall Street investment bank has been part of a western [...]
1 Minute Market Rundown – 13th April 2022 April 13, 2022 Russia – UkraineCore CPI a Touch SofterCrypto ConsolidatesEarnings in Focus US CPI was the key focus of the markets yesterday. As we predicted, the bar was set high for the print as the markets expectations of a hawkish FED has run rampant. As such the USD was sold off following the print, as we thought [...]
PZ Cussons boss: ‘Most challenging external environment many of us have seen’ April 13, 2022 Imperial Leather owner PZ Cussons has seen revenue growth boosted in the third quarter, despite Brits buying less hand sanitiser now. In a trading update on Wednesday morning, the personal healthcare giant said its third quarter like-for-like revenue growth was 8.5 per cent. The FTSE 250 firm, which owns brands including Carex and St Tropez, [...]
As inflation pushes up prices, businesses should only hike them where it really counts April 13, 2022 Just as the impact of the pandemic was subsiding, inflation has risen to its highest rate since March 1992 – hitting 5.5 percent in January 2022. The Bank of England has projected that inflation will hit 7 percent by the spring. From freight rates to oil to furniture and groceries, prices are increasing dramatically. Many [...]
Johnson says sorry for breaking his own Covid rules as he vows to stay as PM April 12, 2022 Boris Johnson has apologised for breaking his government’s Covid rules to attend his own work birthday party in 2020 and has vowed to stay on as Prime Minister. The PM, chancellor Rishi Sunak and Carrie Johnson were all handed Fixed Penalty Notices by the Metropolitan Police today for a lockdown-busting work birthday party in Downing [...]
The City View: Victoria Scholar on rising prices, unemployment and retail sales data; and XR cause Lloyd’s of London HQ shutdown April 12, 2022 Today Andy Silvester talks to Victoria Scholar, Head of Investment at Interactive Investor. They go through some of the week’s economics data on GDP, unemployment, retail sales, and talk trading updates. They discuss the latest from ASOS, Deliveroo, and EasyJet: ASOS is facing a raft of headwinds, as investors lose confidence in the online retailer; [...]
Find business funding that fits your needs April 12, 2022 It’s a difficult time for small businesses. Government-backed lending schemes are winding down, but interest rates and inflation are climbing. Tens of thousands of businesses need to access to capital faster than ever. Are you one of them? Puzzle Funding is an NACFB-accredited start-up that understands how to sustain and scale a business. Puzzle could fill [...]
How long can Russia withstand the sanctions? April 12, 2022 In response to its invasion of Ukraine, Russia has been targeted with severe economic sanctions. How impactful will they be? We have yet to see a serious, data-driven analysis. Some predict the embargo will initiate a Russian financial collapse very quickly, while others expect it will constitute more of a long and slow drag on [...]
1 Minute Market Rundown – 12th April 2022 April 12, 2022 Russia – UkraineNew Week, Same StoryCrypto SofterUS CPI in Focus It may be a new week but it certainly feels like the same story. Following FED member Brainard’s hawkish comments last week, markets continue to reprice in an incredibly hawkish FED. The current landscape seems quite straightforward: yields higher, risk markets lower and the USD [...]
Warehouse boom amid online shopping frenzy as construction bill hits highest level since 1985 April 11, 2022 The UK is in the throes of a warehouse boom after roaring demand for e-commerce businesses was accelerated during the pandemic. The Office for National Statistics (ONS) revealed on Monday that the UK’s transport, logistics and warehousing sector has almost doubled since 2011. This makes it the country’s fastest-growing sector, outpacing information and communication. Logistics [...]